It's a 240v high-leg delta, so three hots plus neutral, conduit is EGC. I've told the customer we need the load information from the HVAC people. We may be able to downsize the high leg and/or the neutral, otherwise we need to go with copper. It's difficult to provide a specific installation with too many unknown variables.
Is the neutral size based solely on the calculated neutral load, as well as its presence, meaning we could get away with no neutral at all past the fused-switch disconnect? If the panel feeds only 1ph and 3ph 240v HVAC loads, the neutral can be omitted. The customer's interest is in "keeping the full capacity (225a) in reserve".
There is also a 200a 1ph 120/240v entrance available for the 120/240v loads. The existing service is made up of CT metering to a trough supplying the 200a 1ph panel as well as a 400a 3ph panel. Both panels are being replaced with new ones, relocated farther in the building, with the 400a being downsized to 200a or 225a.